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Renting out your boat is the easiest way to amortize costs and earn money. However, there are different systems available, each with its own advantages and disadvantages.
Renting your boat privately
It's easy to find boats for rent from one person to another by browsing the ads on the Internet. It's a formula you can easily adopt, albeit with a few precautions.
Advantages
When you rent your boat directly, there's no intermediary and therefore no commission. So, even if you rent for less, you'll get back 100% of the proceeds. If you're on site, you can also have direct contact with the person who's going to rent your boat, and even take a personal handover and, above all, a detailed inventory of the boat, so that you know who you're dealing with and what condition your boat is in when you leave. You can also be sure of the number of people embarking on board.
You can also discuss the area in which the renter wants to go, and give him or her a few tips - a useful precaution, especially in rocky areas.
Finally, this formula leaves you free to use your boat whenever you like.
Disadvantages
Since this is a transaction between private individuals, even with a solid contract, you take risks. In the event of a problem, damage to the vessel or fortune at sea, it will always be very difficult to recover from the lessee.
If you ask for a deposit, it will obviously not cover the value of the boat. Here again, should a problem arise, negotiations will go smoothly...or not.
The use of a boat requires insurance. However, few insurers will cover your boat if you rent it. You may have to declare that you have lent the boat to a friend, but this can pose a serious problem in the event of an incident. You can also ask the renter to use an insurance policy, but this is not always easy.
A few tips
Try to gauge or learn more about the renter's boating experience.
Take a tour with the renter, noting down everything to keep a record. Ask the tenant to sign the inventory of fixtures.
Don't hesitate to take photos when you check out.
If necessary, set rules (number of passengers, distance from departure point, activities).
If you're a little anxious, GPS trackers are inexpensive and easy to install, so you'll know where your boat is. But don't forget to mention this to the renter.
Renting your boat using an Internet platform
As an intermediary between management-rental and simple rental through classified ads, private boat rental websites have proliferated in recent years. They can help you rent out your boat by simplifying the formalities.
Benefits
Most of the formalities (insurance, contract, payment, etc.) are handled by the site, which means security and ease of use.
The visibility of your ad, and therefore the chances of renting it, are greater than on a classified ad site.
The percentage recovered from the rental amount is greater than that of a management-rental.
There's often a system for leaving a rating on the renter, which means that, over time, you'll know who you're renting your boat to.
You're under no obligation whatsoever, either in terms of contract duration or periods of use, so you can use your boat whenever you like.
Disadvantages
No handover service provided by the site; this is the owner's responsibility, so you need to be on site or delegate this work to someone else.
Maintenance and repairs are entirely the owner's responsibility.
No assistance or towing in the event of a problem.
You must use your berth or take care of launching and hauling out.
A few tips
Choose a boat that's easy to rent out (open boat or medium-sized RIB, fishing boat, etc.).
Take care with the photos and the presentation of the boat to attract customers.
Beware of certain paying options (insurance, etc.).
Renting your boat using a lease management company
Rental management (or lease management) is a formula that allows you to entrust your boat to a professional who will rent it out while taking care of maintenance and formalities.
Advantages
You don't have to look for tenants.
You have no formalities to carry out at the time of rental.
Your boat is insured and inspected regularly
You don't have to worry about a berth.
Your boat is maintained by a professional, even in the event of damage during rental (at a cost to be defined at the beginning).
You can enjoy your boat for a few weeks a year (to be agreed with the rental company).
You earn money on rentals (between 50 and 60% of the rental amount), which greatly reduces the cost of your boat and its maintenance.
Disadvantages
You can't enjoy your boat whenever you want.
There's no guarantee of profitability.
You're usually tied in for several years (to be defined with the charter company), and it's difficult to stop the arrangement if it doesn't suit you.
Some professionals are less rigorous than others when it comes to maintenance.
It's not always easy to get a detailed activity report on your vessel (number of rentals, maintenance, incidents...).
A few tips
Choose your charter company with care, investigate its reputation, consult its online results and explore forums to get feedback from charterers.
Choose a boat that's easy to rent. An open hull or a medium-sized RIB, for example.
Take the time to study the proposal and contract terms in detail.
Use the competition to find out who offers you the best deal.
Last but not least, some charter companies also sell boats, so you can make your purchase with the intention of renting the boat from a single source, which can be both practical and financially attractive.
